Senseonics Holdings (SENS) saw its stock price plummet 5.47% in after-hours trading on Wednesday, following the company's announcement of a $300 million mixed shelf offering and the release of its second-quarter earnings report. The diabetes management technology company's move to potentially raise additional capital through the shelf offering appears to have spooked investors, overshadowing its Q2 financial results.

The company filed for a mixed shelf offering of up to $300 million with the SEC, a move that could lead to significant dilution for existing shareholders if fully utilized. This announcement came alongside Senseonics' Q2 earnings report, which showed mixed results. The company reported a loss per share of $(0.02), in line with analyst expectations and an improvement from the $(0.03) loss in the same quarter last year. Revenue came in at $6.649 million, marginally missing the analyst consensus estimate of $6.652 million but representing a 36.67% increase year-over-year.

Despite the revenue growth, Senseonics still faces challenges, reporting a net loss of $14.501 million for the quarter. The company provided a full-year revenue outlook of $34-38 million, which may not have been sufficient to offset concerns about potential dilution from the shelf offering. As Senseonics continues to invest in its continuous glucose monitoring systems, the market reaction suggests investors are wary of the company's funding strategy and path to profitability.